the Editors of Commercial Property Executive
Economy Watch: Consumers Feeling a Little Better; E-Commerce Sales Continue Upward Trend; Industrial Production Sees Downtick
The consumer index for February has increased a bit, showing consumers are a little more positive than expected. E-commerce sales rose 4.4 percent in 4Q12. And U.S. industrial production in January dropped 0.1 percent.
Economy Watch: President Reiterates Economic Proposals; Job Openings Unchanged in December
President Obama’s State of the Union address on Tuesday focused on the economy, and in particular what he wants to do about the nervous economic state of the American middle class. And there were 3.6 million job openings on the last business day of December, little changed from November.
Economy Watch: Home Prices Up in Most MSAs; Yellen Details Reasons for Slow Job Growth
Existing single-family home prices rose in 133 out of 152 U.S. metropolitan statistical areas. And Federal Reserve Vice Chair Janet Yellen gives reasons for slow job growth at a conference.
Economy Watch: Homebuilders More Optimistic About 55+ Housing; Consumer Debt, Especially Student Loans, Up; Unemployment Claims Edge Down
Builder confidence in the 55+ housing market improved during the fourth quarter of 2012, compared with the same quarter a year earlier. U.S. consumer credit increased at an annualized rate of 6.5 percent during the fourth quarter, and 6.3 percent for December. And for the week ending Feb. 2, initial unemployment claims were 366,000, a decrease of 5,000 from the previous week.
Industrial Evolution: A Four-Year Market Outlook
Predictions on the industrial market for 2013 to 2016 mirror the general economic outlook, with a few exceptions, according to an industrial real estate forecast released by Cushman & Wakefield Inc. in late January.
Economy Watch: GDP Edges Down in 4Q; FOMC Stays the Course; ADP Reports Stronger Job Growth
Real U.S. gross domestic product declined at an annualized rate of 0.1 percent during the fourth quarter of 2012. The Federal Open Market Committee affirmed that the Fed is going to continue the asset purchases widely known as QE3. And ADP reports stronger job growth month over month.
Economy Watch: New Home Sales Down Monthly, Up Annually; Optimism at Davos; Equities Bubble?
U.S. new home sales dipped 7.3 percent month over month, but have been on an upward trajectory annually. The mood at Davos this time around was more optimistic compared to previous meetings. And the Dow is approaching all-time highs.
Mack-Cali Acquires Two Luxury M-F Properties in Metro Boston
Mack-Cali Realty Corp. has acquired Alterra at Overlook Ridge IA in Metro Boston for approximately $61 million and has also agreed to acquire Alterra at Overlook Ridge IB for approximately $89 million from a joint venture that includes Prudential Insurance Co. of America.
Economy Watch: Existing Home Sales See Annual Spike; M-F Expansion Slows; Philly Fed–Coincident Indexes Up in Most States
The total existing U.S. home sales in December went up 12.8 percent year over year. Multi-family expansion moderated this month. And the Philly Fed reported that coincident indexes increased in 32 states.
Economy Watch: President States His Intentions; ILO – Worldwide Unemployment Rising
President Obama touches on a number of priorities during his second term in office. According to ILO, worldwide unemployment is rising. And Wall Street closed for the Martin Luther King Jr. holiday, but its indexes worldwide were mixed.